The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (41,000 units): Percentage complete with respect to Costs Ending work in process (57,000 units): Percentage complete with respect to Costs Materials Conversion 100% 20% $ 91,100 $ 26,136 100% 60% ?? ?? The Remington Plant started 231,000 units and transferred out 215,000 in July. Materials costs incurred in July were $744,000 and conversion costs were $1,129,000. Required: Compute the cost per equivalent unit for materials and conversion costs using the FIFO method. Note: Round your answers to 2 decimal places.
The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (41,000 units): Percentage complete with respect to Costs Ending work in process (57,000 units): Percentage complete with respect to Costs Materials Conversion 100% 20% $ 91,100 $ 26,136 100% 60% ?? ?? The Remington Plant started 231,000 units and transferred out 215,000 in July. Materials costs incurred in July were $744,000 and conversion costs were $1,129,000. Required: Compute the cost per equivalent unit for materials and conversion costs using the FIFO method. Note: Round your answers to 2 decimal places.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 15E: Costs per equivalent unit and production costs Based on the data in Exercise 17-14, determine the...
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